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BI to Issue New Banknote Series by the End of 2016

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Oleh Wandi, Kamis, 30 Juni 2016 | 13:30 WIB - Redaktur: Penni Patmawati Rusman - 608

Jakarta, InfoPublik - New banknote series of the Unitary State of the Republic of Indonesia (NKRI) will soon be available to the public since Bank Indonesia and the government will issue now ones this year.

BI Deputy Governor Ronald Waas said that the NKRI banknote series to be issued include denominations of Rp 50,000, Rp 20,000, Rp 10,000, Rp 5,000 and Rp 2,000.

The difference between the new series and the previous ones is the the signature of the Finance Minister beside Bank Indonesia Governor's signature.

According to Ronald, the manufacturing period  of the banknotes is long because it requires coordination with and approval from the government, in particular concerning the picture of national heroes to be featured on the latest NKRI series.

"The president will decide whose picture to be used, and weare still ordering the printing machines, We are targeting to issue by the end of this year,” said Ronald, Sunday (6/26).

In addition to the NKRI banknote series, BI will issue new coins. Unlike the recent coins that display flora and fauna images, the soon to be released coins will feature pictures of heroes. 

“Let’s wait for the chosen heroes to be featured. We are waiting for the President’s approval,'' said Ronald.

The release of the new banknote series are is a response to the increased circulation of counterfeit money in the last two years. BI and the National Police Headquarters are now looking for the source of the counterfeit money circulation.
BI also encouraged people to exchange their money to small-change banknotes  in the banks to prevent the circulation of counterfeit money, in addition to its free of charge service. 

New coin series are released because the amount of the cash getting into BI keeps on declining.

When released for the first time, the amount of the coins were Rp 6 trillion. Last year, the amount of coins returned to BI were only Rp 900 billion. "Next year the amount may be even less than this year,'' he said. (Translator: Erik Limantara)